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Friday, 6 March 2015

Macro and related stories today

A few macro and related stories today.

$ love-up - dollar/yen rate is above 120 again whilst
the euro fell overnight, briefly going below $1.10 — an 11-year low. The
Turkish lira and the Mexican peso tumbled to new record lows against the
greenback, while the Brazilian real fell through the 3 per dollar mark for the
first time since August 2004 and the South African rand slumped to a 13 year
low. $ strength putting pressure on the system…although does mean Japan is strong today. The latter still feel like a one-way yen pony...

For Asia generally haven't heard too much re this recently...

Flows into weak FX areas remain good...strong FX zones like the US meanwhile only see fixed interest ones. Logical...maybe. Makes it inherently though a more volatile world.

Post the ECB – real impact the US$ above but is next
twist higher bond yields? Good link/graphic here

What an excellent de facto offshore rig cost curve -

Look out for later – US NFPs expected at 235k and focus on average hourly earnings